Muthoot Finance Ltd. is one of the most popular Gold Loan providers in India. Muthoot Finance Limited specializes in offering gold loans at attractive interest rates starting at 12.00% per month. A gold loan is a secured loan that is considered an emergency finance option to meet the needs of immediate funds. Applicants who own gold jewelry and fulfill the eligibility conditions can apply for Muthoot Finance Gold Loan. Read on to know more about Muthoot Finance Gold Loan interest rate, loan amount, eligibility and processing and other related information.
| Name of Scheme | Muthoot Finance Gold Loan |
| Rate of Interest | 11.9% p.a. onwards |
| Loan Amount | Rs.1,500 with no maximum limit |
| Loan Tenure | 7 days to 36 months |
Benefits of Muthoot Gold Loan
- Quick disbursement of loan amount.
- Very responsive customer care services.
- You can avail a loan amount of as low as Rs.1,500.
- There is no cap in the maximum loan amounts.
- No charges for prepayment of the loan amount.
- Gold is evaluated by trusted in-house agents.
- Assured custody of the gold ornaments against which the loan amount is availed.
Read More: SBI Gold Loan Eligibility
Different types of Muthoot Finance Gold Loan Schemes
A. Muthoot Mahila Loan
Muthoot Mahila Loan is a special gold loan scheme for women.
- Interest rate: 12% per month
- Minimum Loan Amount: ₹ 1,500
- Maximum Loan Amount: ₹50,000
- Available only in Muthoot Finance’s branches in South India
B. Muthoot Super Loan
Individuals who want maximum loan amount and discount on timely interest payment can opt for Muthoot Super Loan.
- Interest rate: Starting at 23.5%
- Minimum Loan Amount: ₹ 1,500
- Maximum Loan Amount: ₹ 99,900
- Loan Tenure: 12 months
- Online Gold Loan (OGL) Facility: Available
- Free insurance of pledged gold jewellery: Available
C. Muthoot Advantage Loan
Customers who want good returns at the rate of per gram at an attractive interest rate can apply for muthoot advantage loan.
- Interest rate: 18% per month
- Minimum Loan Amount: ₹ 1,500
- Maximum loan amount: Up to ₹ 5 lakh
- Loan Tenure: 12 months
- Online Gold Loan (OGL) Facility: Available
- Free insurance of pledged gold jewellery: Available
- Offered only at Muthoot Finance’s branches in North, East and West India
D. Muthoot High Value Loan
This is an ideal finance option for individuals from the business community who want to avail gold loans for a long term.
- Interest rate: 18% per month
- Minimum Loan Amount: ₹ 3 Lakh
- Maximum Loan Amount: No Limit
- Loan Tenure: 12 months
- Online Gold Loan (OGL) Facility: Available
- Free insurance of pledged gold jewellery: Available
E. Muthoot High Value Loan Plus
Individuals from the business community, such as traders, property dealers, builders and shop owners, can avail Muthoot High Value Loan Plus in search of low-interest gold loans.
- Interest rate: 12% per month
- Minimum Loan Amount: ₹ 5 lakh
- Maximum Loan Amount: No Limit
- Loan Tenure: 12 months
- Online Gold Loan (OGL) Facility: Available
- Free insurance of pledged gold jewellery: Available
F. Muthoot EMI Scheme
Professional and employed customers who prefer to pay easy installments (EMI payments) instead of lump sum or bullet payments can go for the Muthoot EMI plan.
- Interest rate: 21% p.a. (decrease in balance)
- Minimum Loan Amount: ₹ 20,000
- Maximum Loan Amount: No Limit
- Loan tenure: 6, 12, 28, 24, 30, or 36 months
- There will be no charge on pre-payment
- Maximum Loan Amount
- Grace period of 3 days will be available for late payment of EMI
- Freedom to pay one or more EMIs depending on your convenience
G. Muthoot Overdraft Scheme
The Muthoot overdraft plan is an ideal choice for business owners.
- Interest Rate: Will be charged on the amount used
- Minimum Loan Amount: ₹ 2 Lakh
- Maximum Loan Amount: ₹ 50 Lakh
- Loan Tenure: 12 months
- Online Gold Loan (OGL) Facility: Available
- Free insurance of pledged gold jewellery: Available
H. Muthoot Ultimate Loan
Muthoot Premier Loan is best suited for customers who want maximum loan value and discount on timely interest payment.
- Interest rate: 22% per month
- Minimum Loan Amount: ₹ 1,500
- Maximum Loan Amount: No Limit
- Loan Tenure: 12 months
- Online Gold Loan (OGL) Facility: Available
- Free insurance of pledged gold jewellery: Available
I. One Percent Loan
Customers from business communities (such as traders, property dealers, builders and shop owners) who are looking for small loans at lower interest rates can apply for a Muthoot 1% loan.
- Interest rate: 12% per month, if 100% interest is paid monthly
- Minimum Loan Amount: ₹ 1,500
- Maximum Loan Amount: ₹50,000
- Loan Tenure: 12 months
- Online Gold Loan (OGL) Facility: Available
- Free insurance for pledged gold ornaments: Available
J. Muthoot Delight Loan
Muthoot Delight Loan is for customers who want a gold loan of ₹ 2 lakh at a low interest rate.
- Attractive interest rate.
- Minimum loan amount: ₹ 1,500
- Maximum loan amount: Up to ₹ 2 lakh
- Loan Tenure: 12 months
- Online Gold Loan (OGL) Facility: Available
- Free insurance of pledged gold jewellery: Available
Read More: Bank of Baroda Gold Loan Interest Rate
Fees and Charges
| Service charges on loan amount | 0.25% to 1% |
| Service charges on loan account | Rs.50 to Rs.1,500 per account (based on the type of scheme) |
| Notice charges | South Indian branches – Rs.10 per ordinary notice. • Rest of India – Rs.30 per ordinary notice. |
| • Documentation Charges | Rs.2500 for loan amount less than Rs.1 crore • Rs.5000 for loan amounts of Rs.1 crore and above |
| Stamp duty | As per the applicable rates of the respective states |
Muthoot Finance Gold Loan Interest Rate- Eligibility & Documentation
| Age | Minimum 18 years |
| Nationality | Resident Indian |
| Occupation | Salaried, Self-Employed, Businessman, Students, Pensioners, Housewives etc. |
| Purity of Eligible gold | 18 Karat to 22 Karat gold |
Gold Loan Process and DOCUMENTS
- Filled application form
- Two passport-size photographs
- Income proof
- Witness letter in case of illiterate borrowers
- Govt-approved id proof (pan card, voters)
Muthoot Gold Loan Login Process
- Visit any of the nearest Muthoot Finance branches.
- Reach out to customer care officers by giving a missed call to 80952 55577.
- You can also request muthoot finance officials to visit your residence to help you apply for a gold loan.